Torq Resources (TRBMF) has provided updates on three key areas: drilling progress, financing, and corporate changes. The company has successfully completed 4,062.5 meters of drilling across 5 holes at its Santa Cecilia project under favorable weather conditions. Drill results are expected to be released starting June. On the financing front, Torq's previously announced non-brokered private placement, along with debt settlement and credit facility extension, awaits conditional approval from TSX Venture Exchange. In corporate news, director Waldo Cuadra has resigned from the board but will continue as General Manager, Chile, maintaining his operational role at Santa Cecilia.
Torq Resources (TRBMF) ha fornito aggiornamenti su tre aree chiave: avanzamento delle perforazioni, finanziamenti e cambiamenti aziendali. La società ha completato con successo 4.062,5 metri di perforazioni in 5 fori nel suo progetto Santa Cecilia, grazie a condizioni meteorologiche favorevoli. I risultati delle perforazioni sono previsti a partire da giugno. Sul fronte finanziario, il collocamento privato non intermediato precedentemente annunciato da Torq, insieme alla liquidazione del debito e all'estensione della linea di credito, è in attesa di approvazione condizionata dalla TSX Venture Exchange. In ambito societario, il direttore Waldo Cuadra si è dimesso dal consiglio di amministrazione, ma continuerà come Direttore Generale in Cile, mantenendo il suo ruolo operativo a Santa Cecilia.
Torq Resources (TRBMF) ha proporcionado actualizaciones en tres áreas clave: progreso de perforación, financiamiento y cambios corporativos. La compañía ha completado con éxito 4,062.5 metros de perforación en 5 pozos en su proyecto Santa Cecilia bajo condiciones climáticas favorables. Se espera que los resultados de las perforaciones se publiquen a partir de junio. En cuanto al financiamiento, la colocación privada no intermediada previamente anunciada por Torq, junto con la liquidación de deudas y la extensión de la línea de crédito, está a la espera de la aprobación condicional de la Bolsa de Valores TSX Venture. En noticias corporativas, el director Waldo Cuadra ha renunciado a la junta, pero continuará como Gerente General en Chile, manteniendo su rol operativo en Santa Cecilia.
Torq Resources (TRBMF)는 시추 진행 상황, 자금 조달 및 기업 변동의 세 가지 주요 분야에 대해 업데이트를 제공했습니다. 회사는 유리한 기상 조건 속에서 산타 세실리아 프로젝트에서 5개의 시추공에서 총 4,062.5미터의 시추를 성공적으로 완료했습니다. 시추 결과는 6월부터 발표될 예정입니다. 자금 조달 측면에서는 Torq가 이전에 발표한 비중개 사모 발행과 부채 상환 및 신용 한도 연장이 TSX 벤처 거래소의 조건부 승인을 기다리고 있습니다. 기업 소식으로는 이사인 Waldo Cuadra가 이사회에서 사임했으나 산타 세실리아에서 운영 역할을 유지하며 칠레 총괄 매니저로 계속 근무할 예정입니다.
Torq Resources (TRBMF) a fourni des mises à jour sur trois domaines clés : l'avancement du forage, le financement et les changements au sein de l'entreprise. La société a achevé avec succès 4 062,5 mètres de forage répartis sur 5 trous sur son projet Santa Cecilia, dans des conditions météorologiques favorables. Les résultats des forages devraient être publiés à partir de juin. Sur le plan financier, le placement privé sans courtier précédemment annoncé par Torq, ainsi que le règlement de la dette et l'extension de la facilité de crédit, attendent l'approbation conditionnelle de la TSX Venture Exchange. Dans les actualités d'entreprise, le directeur Waldo Cuadra a démissionné du conseil d'administration mais continuera en tant que directeur général au Chili, conservant ainsi son rôle opérationnel à Santa Cecilia.
Torq Resources (TRBMF) hat Updates zu drei wichtigen Bereichen gegeben: Bohrfortschritt, Finanzierung und Unternehmensänderungen. Das Unternehmen hat erfolgreich 4.062,5 Meter Bohrungen in 5 Löchern im Santa Cecilia-Projekt unter günstigen Wetterbedingungen abgeschlossen. Die Bohrergebnisse werden ab Juni veröffentlicht. Im Finanzierungsbereich wartet die zuvor angekündigte nicht vermittelte Privatplatzierung von Torq zusammen mit der Schuldenregulierung und der Verlängerung der Kreditfazilität auf die bedingte Genehmigung der TSX Venture Exchange. In Unternehmensnachrichten hat der Direktor Waldo Cuadra seinen Rücktritt aus dem Vorstand erklärt, wird jedoch weiterhin als General Manager in Chile tätig sein und seine operative Rolle bei Santa Cecilia beibehalten.
Positive
Successful completion of planned drilling program with 4,062.5 meters across 5 holes
Favorable weather conditions allowed for extended drilling program
Drill results expected soon, starting June
Retention of Waldo Cuadra as General Manager despite board resignation
Negative
Pending TSX Venture Exchange approval for financing and debt settlement
Board director resignation
VANCOUVER, BC / ACCESS Newswire / May 26, 2025 / Torq Resources Inc. (TSX-V:TORQ)(OTCQB:TRBMF) ("Torq" or the "Company") is pleased to provide an update on its ongoing drilling program at Santa Cecilia.
The Torq Goldfields JV has completed 4,062.5 meters drilled in 5 holes under favorable weather conditions, the originally planned drilling campaign was completed. The results are expected to be received and released from June onward.
A Message from Shawn Wallace, CEO:
"We are excited about this current phase of drilling as the program is able capitalize on all the previous exploration work and drilling successes we have had. Drilling logistics have also been working in our favor in the way that the good weather has allowed the program to be extended. Completing this financing and cleaning the balance sheet is the last piece of the reorganization of Torq. We look forward to the exciting opportunities and pending drill results from Santa Cecila."
Financing Update:
The non-brokered private placement financing, announced on March 24, 2025, is pending conditional approval from the TSX Venture Exchange along with the concurrent debt settlement and credit facility extension, which are expected to close upon receipt of exchange approval.
Corporate Update:
The Company announces that director, Waldo Cuadra, has for personal reasons resigned from his position on the board of directors with the Company, effective immediately, but will remain as General Manager, Chile. The board of directors would like to thank Waldo for his contributions during his term as a director and look forward to working with him in his capacity as country manager leading the efforts at Santa Cecilia.
Torq is a Vancouver-based copper and gold exploration company with a portfolio of premium holdings in Chile. The Company is establishing itself as a leader of new exploration in prominent mining belts, guided by responsible, respectful and sustainable practices. The Company was built by a management team with prior success in monetizing exploration assets and its specialized technical team is recognized for their extensive experience working with major mining companies, supported by robust safety standards and technical proficiency. The technical team includes Chile-based geologists with invaluable local expertise and a noteworthy track record for major discovery in the country. Torq is committed to operating at the highest standards of applicable environmental, social and governance practices in the pursuit of a landmark discovery. For more information, visit www.torqresources.com.
Forward Looking Information
This release includes certain statements that may be deemed "forward-looking statements". Forward-looking information in this release includes statements that relate to the possibility that drilling will demonstrate the extension of favourable geological structures. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different (either positively or negatively) from any future results, performance or achievements expressed or implied by some of the principal forward-looking statements. See Torq's Annual Information Form filed April 29, 2024, at www.sedarplus.ca for disclosure of the risks and uncertainties faced in this business.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
What is the current drilling progress at Torq Resources' (TRBMF) Santa Cecilia project?
Torq Resources has completed 4,062.5 meters of drilling across 5 holes at Santa Cecilia under favorable weather conditions. Results are expected to be released from June onward.
What is the status of Torq Resources' (TRBMF) March 2025 private placement financing?
The non-brokered private placement financing announced on March 24, 2025, is currently pending conditional approval from the TSX Venture Exchange, along with concurrent debt settlement and credit facility extension.
Who is Waldo Cuadra and what changes were announced regarding his role at Torq Resources?
Waldo Cuadra has resigned from his position on Torq Resources' board of directors but will remain with the company as General Manager, Chile, continuing to lead efforts at Santa Cecilia.
When will Torq Resources (TRBMF) release the drilling results from Santa Cecilia?
Torq Resources expects to begin releasing the drilling results from Santa Cecilia from June 2025 onward.
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